NDB Bank to acquire controlling stake in ENDB

Eagle Insurance PLC's second-largest shareholder NDB Bank, through its subsidiary Capital Development and Investment Company (CDIC) will acquire the controlling stake in Eagle Insurance's fully owned subsidiary, Eagle NDB Fund Management Company (ENDB) subject to receiving relevant regulatory approvals.

Aviva International Holdings through Aviva NDB Finance Lanka Private Limited (ANFL) will remain as ENDB's indirect shareholding partner with a stake of 49 percent. With this acquisition, CDIC will own a direct and indirect shareholding representing 51 percent of the issued share capital of ENDB.